Sahara International Petrochemical Company (Sipchem) announces the proposed early redemption of its SAR 1.0 billion Sukuk
Thursday, March 04, 2021
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Introduction Sahara International Petrochemical Company (Sipchem) announces the proposed early redemption of its SAR 1.0 billion Sukuk on 18/04/2021G, in full, at face value. The Sukuk was offered through a private placement on 16/06/2016G, for an amount of SAR 1.0 billion. While the original maturity date for the Sukuk is 16/06/2021G (the “Expiry Date”), in accordance with the terms and conditions of the Sukuk, Sipchem intends to redeem the Sukuk early in connection with a financing of the redemption of the Sukuk on a date falling not more than two (2) months before the Expiry Date (such date, the “Refinancing Redemption Date”). The face value of the Sukuk and any periodic (profit) distribution amount payable (for the period up to the Refinancing Redemption Date) will be transferred to Sukukholders on 18/04/2021G, based on their respective holdings as of 07/04/2021G.
Offer Type Sukuk
Value of the redeemed (sukuk\ bonds) SAR 1.0 billion
Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) 100 %
Number of redeemed (bonds/sukuk) 1,000 Sak
Issuance Date 2016-06-16 Corresponding to 1437-09-11
Trading End Date Start of the Sukuk trading suspension period: 24/08/1442H


(corresponding to 07/04/2021G)

Sukuk Par Value at Redemption Date SAR 1,000,000 per Sak
Total issuance value after redemption Nil
Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts 2021-04-15 Corresponding to 1442-09-03
Name of the Entity Responsible for the Deposit and Contact Details NCB Capital in its capacity as the Payment Administrator. Further information in this regard may be obtained from the Payment Administrator at [email protected]


The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.